Are you supporting your staff with Group Risk benefits?

87% of HR leaders say that improved retention is a critical over the next five years, yet one fifth believe there are too many competing factors to focus on fixing the issue in 2017.

The research by Kronos found that one of the factors hindering better retention included outdated HR technology and a lack of support from the C-Suite. 16% cited budget as the primary obstacle to improving employee retention in the next 12 months.

Whilst we are experiencing a period of increasing inflation and low wage growth, low cost, high value benefits such as those offered by Group Risk insurers can be a differentiating factor when it comes to attraction and retention – for all employees.

Paul Avis, Marketing Director at Canada Life, explains: “Some employers limit their schemes to either executives or pension scheme members, but wherever possible an eligibility of ‘all employees’ works best for a number of reasons. Schemes with a limited number of employees will have a lower ‘Free Cover Level’ (FCL), which is the maximum amount of benefit an employee can have without needing any medical underwriting in normal circumstances.”